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Continental Realty Co. history
Continental Realty Co. company history timeline
Continental got its start in 1960, when Mr.
It was from that spark that Continental Realty was launched in 1973.
Schapiro eight years later, completed the duo in 1979, after a stint as Baltimore City's treasurer and a career with the former Equitable Bank, N.A., where he rose to senior vice president in charge of lending.
Continental Properties was started in 1979 by three 20-year-old college students: Jim Schloemer, Rich Bell, and Steve Wagner.
Continental's foray into the world of the silver screen began in 1982, when the firm came to the rescue of a failing, 40-year-old theater chain.
Established in 1982 as Continental Realty Advisors - a pension fund advisor covering a nationwide investment platform.
CRC began its management activities in 1984, later opening branch offices in response to client needs in Dallas, Texas; Denver, Colorado; Miami, Florida; and Seattle, Washington.
Brokered a purchase for a major international pension fund in 1984
The insurer, which had lent Continental's principals $24 million in 1986, had attempted to foreclose on the mall after the partnership sought debt relief.
At the same time, though, Continental believed that the future of the movie theater business was shifting to larger players, so it sold the chain in October 1988 for nearly $30 million to a subsidiary of Columbia Pictures, a chain that would itself eventually be acquired by Sony Corp.
By late 1988, Continental controlled 66 screens -- 50 percent of all the screens in the metropolitan area -- and was building modern, if box-like, theaters in rising population centers such as Columbia and Owings Mills.
The kick-off project in 1988 was Turnberry, a golf course community in Pickerington, Ohio.
Since 1990, CR Restaurants Inc., the firm's restaurant subsidiary, has become the Baltimore area's second-largest Burger King franchisee, with eight locations from White Marsh to Columbia.
A retail center in Miami owned by CRC was severely damaged by Hurricane Andrew in 1992.
In November 1994, for instance, a Continental-controlled partnership sought Chapter 11 bankruptcy protection on behalf of the 540,000-square-foot Reisterstown Road Plaza after a fight with lender Aetna Life & Casualty Co.
Continental agreed and headed east to Pittsburgh in 1998 to break ground on The Waterfront – a mix of lifestyle and big box retail, entertainment, restaurant, hotel and offices.
Rehabilitated and sold its Miami retail center in 1999 for a sizable profit
The 2.4-million sf project opened in 2000 and increased real estate tax revenues for the communities from $300,000 to $7-million a year.
On the retail side, demand for outdoor ‘lifestyle’ retail development remained strong until 2008.
Since 2010, CRC has created a diversified portfolio of net lease properties across several states.
Finally, 2010 saw CRC’s first international expansion.
In 2010, Continental completed The Kingsdale Shopping Center project in Upper Arlington, a suburb of Columbus, Ohio.
Based in Shanghai since 2011, CARC brings CRC’s offerings to the Chinese market, including EB-5 immigration investments, a portfolio of US residential properties, and CRC’s investment consulting services.
Broke ground on 2,896 apartment homes in 7 states in 2015.
Broke ground on 3,175 apartment homes in 7 states in 2016.
Broke ground on 3,140 apartment homes in 2017.
NMHC Top 10 Developer - 15th Place (apartment homes developed in 2019)
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Continental Realty Co. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Integrity Asset Management | - | $640,000 | 15 | - |
| Essex Property Trust | 1971 | $1.8B | 1,799 | 39 |
| Aimco | 1975 | $169.8M | 52 | - |
| Eighteen Capital Group | - | $5.4M | 350 | - |
| Colonial Properties Trust | 1993 | $19.0M | 50 | - |
| BSR REIT | 1956 | $8.5M | 158 | - |
| Lenox Park Solutions | 2013 | $330,000 | 9 | - |
| Entrada Partners | - | $1.4M | 5 | - |
| Baco Realty Corporation | - | - | - | - |
Continental Realty Co. history FAQs
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Continental Realty Co. may also be known as or be related to Continental Realty Co, Continental Realty Co Inc, Continental Realty Co. and Continental Realty Co., Inc.